Cardinal Energy (TSE:CJ) Stock Passes Above Fifty Day Moving Average – Here’s Why

Cardinal Energy Ltd. (TSE:CJ)’s stock price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$6.26 and traded as high as C$6.96. Cardinal Energy shares last traded at C$6.77, with a volume of 853,814 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CJ shares. CIBC decreased their price target on Cardinal Energy from C$8.00 to C$7.00 in a research report on Thursday, April 10th. Royal Bank Of Canada upgraded Cardinal Energy from a “sector perform” rating to an “outperform” rating and increased their price target for the company from C$7.00 to C$7.50 in a research report on Thursday, April 17th.

Cardinal Energy Price Performance

The company has a current ratio of 0.50, a quick ratio of 0.67 and a debt-to-equity ratio of 8.05. The firm has a market cap of C$1.08 billion, a price-to-earnings ratio of 10.46, a price-to-earnings-growth ratio of -0.26 and a beta of 2.81. The stock has a 50-day moving average of C$6.26 and a two-hundred day moving average of C$6.30.

Cardinal Energy Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 15th will be paid a $0.06 dividend. This represents a $0.72 annualized dividend and a yield of 10.64%. The ex-dividend date of this dividend is Monday, June 30th. Cardinal Energy’s dividend payout ratio is currently 111.27%.

Insider Buying and Selling

In other Cardinal Energy news, Director John Albert Brussa acquired 30,000 shares of Cardinal Energy stock in a transaction that occurred on Monday, April 7th. The stock was purchased at an average cost of C$5.42 per share, with a total value of C$162,600.00. Also, Director John Festival purchased 6,925 shares of the business’s stock in a transaction dated Friday, May 23rd. The shares were purchased at an average cost of C$6.13 per share, with a total value of C$42,450.25. In the last ninety days, insiders acquired 96,925 shares of company stock valued at $560,050. Corporate insiders own 23.38% of the company’s stock.

Cardinal Energy Company Profile

Cardinal Energy Ltd is an oil-focused Canadian company. The company’s principal business activity is the acquisition, exploration, and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan.